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Dec 11, 2012
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becky there in washington, d.c. all day coverage today on cnbc. you don't want to miss that. >>> and coming up on european "squawk box," this man could be the next prime minister of italy. try and catch that if you can. see you back here tomorrow.
becky there in washington, d.c. all day coverage today on cnbc. you don't want to miss that. >>> and coming up on european "squawk box," this man could be the next prime minister of italy. try and catch that if you can. see you back here tomorrow.
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Dec 11, 2012
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what the negotiations may turn out to be in washington? the overall sentiment leaping into the end of the year? >> i think relative to santa claus i think ben bernanke is coming tomorrow -- >> they both have white beards beards. >> that environment in essence, why be in cash? why be in treasuries? they're forcing you to go out and acquire risk -- whether you believe it's artificial or not. i think there is credibility in the belief that the lot of it is artificial stimulation. >> doesn't matter. >> it doesn't matter. >> market's going up. you want to be a part of it. >> the market, you are being forced into risk assets. it looks like europe is improving. looks like i merging markets are improving. there's other places for the flows of capital to go. not just the u.s. >> i think boehner sounded like today he was overplaying his hand a little bit. if you step back from the rhetoric, the back and forth posturing in washington, i think you have a market that if you look back in october, the s&p was trading 1470. it pulled all the way back afte
what the negotiations may turn out to be in washington? the overall sentiment leaping into the end of the year? >> i think relative to santa claus i think ben bernanke is coming tomorrow -- >> they both have white beards beards. >> that environment in essence, why be in cash? why be in treasuries? they're forcing you to go out and acquire risk -- whether you believe it's artificial or not. i think there is credibility in the belief that the lot of it is artificial stimulation....
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Dec 19, 2012
12/12
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denzel washington? - [voice of denzel washington] i'm here, i'm present, and i will always be around. - lil jon? - [voice of lil jon] yeah! - [voice of barack obama] excuse me, lil jon. welcome, ray. i'm glad to have you on board. - oh, [bleep]! what's up, barack obama? ahem! [chuckles] wouldn't that be something if barack obama just showed up? - your start-up paperwork's right over here. [dramatic music] - man, you gotta be more careful. learn to use the shining. tune in and out of it. otherwise, you won't be able to sort out who's talking. - and i'm sick of these goddamn snakes... - just give me the basketball! - on this goddamn plane! - here, yo, coco, what you want to drink, girl? - leo, what are you doing? - drink some colt 45 malt liquor. [overlapping voices] - women dig chocolate! - is everything okay? [dramatic music] - ray! listen for morgan. morgan freeman. he will guide you. - [voice of morgan freeman] listen to my voice, ray. now, just stay calm and focus on that white man. - [exhales] every
denzel washington? - [voice of denzel washington] i'm here, i'm present, and i will always be around. - lil jon? - [voice of lil jon] yeah! - [voice of barack obama] excuse me, lil jon. welcome, ray. i'm glad to have you on board. - oh, [bleep]! what's up, barack obama? ahem! [chuckles] wouldn't that be something if barack obama just showed up? - your start-up paperwork's right over here. [dramatic music] - man, you gotta be more careful. learn to use the shining. tune in and out of it....
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Dec 24, 2012
12/12
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hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. to the best vacation sp(all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana
hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one...
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Dec 12, 2012
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washington slammed the move as provocative while china and russia expressed regret. for more we're joined from by beijing by nbc reporter ian williams. ian, it seems to be a secretary launch. certainly more successful than one earlier in the year. what is the reaction there? >> reporter: that's right, rot. certainly more successful because, of course, that rocket earlier in the year burned out shortly after it left the ground. now across the region, there's been anger and dismay. but also a little bit of surprise because it had looked at the week, at the weekend like this launch might be delayed. the north incited technical reasons, but there was speculation that perhaps china, which had expressed deep concern, was putting pressure on behind the scenes. now a lot of the outrage we've seen has been predictable from japan, from south korea, from the u.s. but the chinese reaction has been a little bit more nuanced. they expressed that deep concern ahead of the rocket launch. and today they were wrapping themselves up in diplomatic contortionism if finding a way of respo
washington slammed the move as provocative while china and russia expressed regret. for more we're joined from by beijing by nbc reporter ian williams. ian, it seems to be a secretary launch. certainly more successful than one earlier in the year. what is the reaction there? >> reporter: that's right, rot. certainly more successful because, of course, that rocket earlier in the year burned out shortly after it left the ground. now across the region, there's been anger and dismay. but also...
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Dec 10, 2012
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we'll start in washington. president obama, speaker boehner met face-to-face over the weekend to talk some fiscal cliff. our john harwood is live at the white house with more on that. john, good morning. >> good morning, carl. you know the president's been very clear since the election that republicans need to give on taxes for people at the top and not just on revenues, but also on tax rates because he says the math can't work otherwise. we've seen some signs of cracking in the republican unity. that suggests we may be getting to the next phase of negotiations. the latest sign was possible corker, the senator from tennessee, who was on our air just a few minutes ago, as you know, saying republicans should concede ground on top tax rates and then get on to other issues. >> the best place for republicans to be, to me, is to pass the rate of rate increases, be done with it, the numbers aprobably much smaller than is going to ultimately be negotiated, and then we still are focused on the right thing, which is enti
we'll start in washington. president obama, speaker boehner met face-to-face over the weekend to talk some fiscal cliff. our john harwood is live at the white house with more on that. john, good morning. >> good morning, carl. you know the president's been very clear since the election that republicans need to give on taxes for people at the top and not just on revenues, but also on tax rates because he says the math can't work otherwise. we've seen some signs of cracking in the...
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Dec 24, 2012
12/12
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the top story, of course, a ticking clock in washington. tend of the year fast approaching. still no deal to avert the fiscal cliff.
the top story, of course, a ticking clock in washington. tend of the year fast approaching. still no deal to avert the fiscal cliff.
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Dec 28, 2012
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>> i think it's going to be all about washington, d.c. i don't think these reports are going to shape markets in any way. it will be interesting to see the housing market report given the strong run that we've seen for the year. it should instill a bit of confidence. the price likely the going to be subdued going into the end of the session. it's all about the fiscal cliff talks. the recent setback that we have. we may have some sort of agreement on sunday, but i don't think markets are holing their breaths. >> just a couple of corporate stories here. bankia shares are down. we're seeing porsche move up 6% the last time i moved. what else is driving markets here in europe today? >> lonmin was an issue. markets looking at that story right now. also, it's one of those stories where with the mining sector, given what's going on in south africa, it goes on to that. overall, it's busy on the corporate front and, again, it's just about the fiscal cliff talks and that's something that we would be looking after in the course of the day. >> we'll
>> i think it's going to be all about washington, d.c. i don't think these reports are going to shape markets in any way. it will be interesting to see the housing market report given the strong run that we've seen for the year. it should instill a bit of confidence. the price likely the going to be subdued going into the end of the session. it's all about the fiscal cliff talks. the recent setback that we have. we may have some sort of agreement on sunday, but i don't think markets are...
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Dec 13, 2012
12/12
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if washington goes over it. find out why when we come back. n if washington goes over it. find out why when we come back. f washington goes over it. find out why when we come back. is pretty amazing. we interact with our offices, anywhere, anytime. charles, you're one of the greatest losers of all time. thank you. >>> let's take a look at the european session. ibex has been flipping back and forth between positive and negative this morning. a debt auction from italy and spain went off relatively well this morning. the ftse lower by .14%. the xetra dax has been the underperfounde underperfo underperformer, down .3%. flipping over to the u.s. now, here is what's on the agenda today in the u.s. a triple play with jobless claims, retail sales and the ppi. retails sales are expected to rise .5% overall, but slipped 0.1% excludeing autos. producer prices are seen down except for the 0.1% gain expected when you strip out food and energy. so lower headlines, firmer core. and on the earnings front, look for results today from see area, peer one imports and adobe systems. here is a
if washington goes over it. find out why when we come back. n if washington goes over it. find out why when we come back. f washington goes over it. find out why when we come back. is pretty amazing. we interact with our offices, anywhere, anytime. charles, you're one of the greatest losers of all time. thank you. >>> let's take a look at the european session. ibex has been flipping back and forth between positive and negative this morning. a debt auction from italy and spain went off...
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Dec 22, 2012
12/12
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washington, d.c. protestorses toled with security outside the national rifle association event. inside two protestors disrupted proceedings twice. the n.r.a. is a powerful lobby inner the constitutional rights to bear arms. n.r.a. speakers marked the start of a serious national conversation to prevent school shootings. their main idea, more guns in schools. >> the only way -- the only way to stop a monster from killing our kids is to be personally involved and informsed in a plan of absolutely protection. the only thing that stops a bad guy with a gun is a good guy with a gun. >> the n.r.a. is launching a national school shield program to work with schools to beef up security on sight. >> i call on congress today to act immediately to appropriate whatever is necessary to put armed police officers in every single school in this nation. >> this was less of a press conference, more like an n.r.a. event to which the media had been invited. journalists tried to find out if their this conversation would involve working directly be the white house. the leadership refused to answer sayi
washington, d.c. protestorses toled with security outside the national rifle association event. inside two protestors disrupted proceedings twice. the n.r.a. is a powerful lobby inner the constitutional rights to bear arms. n.r.a. speakers marked the start of a serious national conversation to prevent school shootings. their main idea, more guns in schools. >> the only way -- the only way to stop a monster from killing our kids is to be personally involved and informsed in a plan of...
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Dec 23, 2012
12/12
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al jazeera, washington. >> and mexican police official has announced he is quitting after wake of corruption charges. he has rejected the allegations that after 23 years of service he will resign on december the 34th. he faced strong criticism following a shootout at the airport that killed three officers at in june. officers at in june.
al jazeera, washington. >> and mexican police official has announced he is quitting after wake of corruption charges. he has rejected the allegations that after 23 years of service he will resign on december the 34th. he faced strong criticism following a shootout at the airport that killed three officers at in june. officers at in june.
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Dec 10, 2012
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that the game, the quarterback position has been revolutionized this year with what rg3 has done in washington and how that offense has changed to fit his skill set, a guy that kind of is similar to mine and then russell wilson what he's doing with his stature and drew brees, as well. >> there's a major argue in "the wall street journal" today about how the changing face of college football and this conference realignment, maybe four super conferences and a lot of it has to do with television. if you weren't in the acc, texas a&m swimping into the s.e.c. excuse me, if you weren't in the s.e.c. and you had to play alabama you think you could have won an award like this? >> it would have been a lot more difficult. the big dwell is a great conference. i don't feel like it has the power that the s.e.c. does and think everybody that's involved in the s.e.c. feels like it's the best conference in the country for a reason. so with the tv and stuff, we were on tv a lot more this year than we have been in the past. so it was good to get noticed a little bit more, and then to play some of the best teams
that the game, the quarterback position has been revolutionized this year with what rg3 has done in washington and how that offense has changed to fit his skill set, a guy that kind of is similar to mine and then russell wilson what he's doing with his stature and drew brees, as well. >> there's a major argue in "the wall street journal" today about how the changing face of college football and this conference realignment, maybe four super conferences and a lot of it has to do...
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Dec 19, 2012
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a lot of people watching what's happening in washington. negotiations continue and we are all trying to figure out what's happening at this point. house republicans have announced plan b, that's in case the talks fail. that plan b would move to pass their own tax bills and automatic budget cuts set to happen next month. actually, it would not avert the automatic budget cuts. that would still be in there. from everything we heard, the automatic sequestration budget cuts would continue. it would only avert the tax portion of that and extend low tax rates except on those with incomes a million dollars and above. president obama's latest position puts the threshold at $400,000. no one is expecting the gop bill will pass the democratic senate. harry reid saying it won't. each side continuing to say the other's fiscal cliff positions are not balanced. we have watched the markets and they have thrown through this rhetoric. the dow futures are up after yesterday gaining the day before that, too. overseas in asia, you saw gains in tokyo, that market
a lot of people watching what's happening in washington. negotiations continue and we are all trying to figure out what's happening at this point. house republicans have announced plan b, that's in case the talks fail. that plan b would move to pass their own tax bills and automatic budget cuts set to happen next month. actually, it would not avert the automatic budget cuts. that would still be in there. from everything we heard, the automatic sequestration budget cuts would continue. it would...
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Dec 7, 2012
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>> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is licensed and regulated, the price will certainly go down to some extent. >> how confident are you -- you talk about setting up a regulated functioning market for weed as if you just snapped your fingers. how do you make sure this stays out of the hands of those who are under 21? >> well, we've seen in colorado already a fully regulated market that is serving 120,000 medical marijuana patients and no reports of any marijuana being diverted from those stores to teens and moreover while the use of marijuana among teens has gone up 11% nationally, it's actually gone over the past two years 11% in colorado. so what we see is a regulated market that can keep marijuana out of the hands of teens and we hope the federal government and president obama don't stand in the way of p
>> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is licensed and regulated, the price will certainly go down to some extent. >> how confident are you -- you talk about setting up a regulated functioning market for...
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Dec 14, 2012
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this meeting came after a day of frustration in washington as both sides criticized each other for lack of progress. >> republicans want to solve this problem by getting the spending line down. the president wants to pretend the spending isn't a problem. that's why we don't have an agreement. >> speaker boehner can't ignore the american people forever. at some point, reality should set in. the only question is how much financial stress middle class families and our entire economy will have to endure during this process. >> well, the clock is ticking. so is a resolution before the end of the year likely? let's of the pose that question to tony fratto. and a cnbc contributor. tony, good morning. are we actually going to get a deal? >> morning, kelly. boy, before the end of the year, i think that was your standard. i think it's getting to be more and more unlikely, kelly. i think when you see the kind of language and -- but actual language and body language that we saw yesterday, it looks farther away. but, look, i've long felt that this was a deal that could only happen after the new year
this meeting came after a day of frustration in washington as both sides criticized each other for lack of progress. >> republicans want to solve this problem by getting the spending line down. the president wants to pretend the spending isn't a problem. that's why we don't have an agreement. >> speaker boehner can't ignore the american people forever. at some point, reality should set in. the only question is how much financial stress middle class families and our entire economy...
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Dec 28, 2012
12/12
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buoys, rockville, washington, mt. vernon, manassas, i expect this to be about an inch or less, some areas a bit more. 1 to 2 along i-81 corridor. winter weather advisories for all of you back towards the north and west. >>> thanks, doug. >>> jason pugh is new with us. we want to welcome you. you're new in town, but i know because you're a sports buff, it's been a long time since we've been this jacked up with a game against the cowboys. >> you have a reason to. this is going to be a fun game. i net more nervous than excited about these big games. eye looking forward to it. i really am. today was the final day of practice. before their matchup with the cowboys, it all came down to the final week of the season. both the redskins and cowboys can clinch the division crown with a victory. the skins have a chance of making the playoffs with a loss, though. with the cowboys, it's win or go home. both these teams are coming in hot after starting the year at 2-3. the cowboys have been on a roll and won five of their last seven
buoys, rockville, washington, mt. vernon, manassas, i expect this to be about an inch or less, some areas a bit more. 1 to 2 along i-81 corridor. winter weather advisories for all of you back towards the north and west. >>> thanks, doug. >>> jason pugh is new with us. we want to welcome you. you're new in town, but i know because you're a sports buff, it's been a long time since we've been this jacked up with a game against the cowboys. >> you have a reason to. this is...
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Dec 9, 2012
12/12
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as is the case in washington state. librarians at the university of washington were shocked to find that several of their library books were infested with the bugs. experts say that there has been a rise in bed bug cases across the country in recent years. >> we spoke with professionals that are treating and what we see in the u.s. is what date are calling professional are calling at least four times more professional >> if you should be aware, make sure that there are no bites on your children. >> officials collected 45 books out of the library's collection of over seven million. and froze them effectively killing the bugs. the school then brought in bed bug sniffing dogs to make sure that all their facilities were clear. >> a farmer in deer park washington spent an hour and a half turning his 200 acre field into a wedding proposal for his longtime girlfriend. it was only after loren lentz had finished working on the "j" in her name that his ten-year-old daughter told him it was backwards. but it didn't matter. lentz a
as is the case in washington state. librarians at the university of washington were shocked to find that several of their library books were infested with the bugs. experts say that there has been a rise in bed bug cases across the country in recent years. >> we spoke with professionals that are treating and what we see in the u.s. is what date are calling professional are calling at least four times more professional >> if you should be aware, make sure that there are no bites on...
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Dec 6, 2012
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when we come back who do americans really hold responsible for gridlock in washington? we'll find out. >>> co-chair of the campaign to fix the debt former senator judd gregg joins us live to tell us why congressional leadership could be standing in the way of a solution. >>> first rick santelli is working for something later on in the hour. >> in about ten minutes we're going to have ira harris and have some interesting topics. ira harris has a notion of who may be most impacted if we go over the fiscal cliff and i don't think you'll be expecting the answer he'll give and touch on mario draghi and ecb, maybe a little berlusconi all coming up in ten minutes. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more i
when we come back who do americans really hold responsible for gridlock in washington? we'll find out. >>> co-chair of the campaign to fix the debt former senator judd gregg joins us live to tell us why congressional leadership could be standing in the way of a solution. >>> first rick santelli is working for something later on in the hour. >> in about ten minutes we're going to have ira harris and have some interesting topics. ira harris has a notion of who may be most...
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Dec 17, 2012
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you might have some news from washington as well. a white house official telling nbc news that the president and house speaker boehner are meeting at the white house as we speak to discuss the fiscal cliff. dow popped on that news when it first broke on some of the wires. currently sitting close to highs of the session up about 85 points. want to bring you the latest details on the newtown connecticut shootings. the town is grieving after the horrific events at sandy hook elementary on friday that left 20 children dead. danielle leigh is live in newtown with the latest. >> good morning. and today is the beginning of a very hard week ahead as families begin saying good-bye to their loved ones and burying those victims who did not survive this tragedy. the first funeral will be today for those victims, starting very soon. the first for 6-year-old nora whose twin sister survived the shooting in a different classroom and 6-year-old jack pinto who was a big new york giants fan. these parents burying their children, something no parent sho
you might have some news from washington as well. a white house official telling nbc news that the president and house speaker boehner are meeting at the white house as we speak to discuss the fiscal cliff. dow popped on that news when it first broke on some of the wires. currently sitting close to highs of the session up about 85 points. want to bring you the latest details on the newtown connecticut shootings. the town is grieving after the horrific events at sandy hook elementary on friday...
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Dec 10, 2012
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in washington. that's right. but we got -- all the s.b. >> you know, erskine, when you look at what the odds are, the argument in the past has always been, i needed to talk about this a little earlier this morning, the idea that we will get some sort of higher rates now. the argument from the republicans has been if we agree to higher tax cuts now and agree to spending cuts later we're going to get the short end of the stick because that never happens. what do you think is the fair way they should be thinking about this, and a realistic way? >> i think if they agree to higher rates now in some form that you'll see these others fall into place really quickly. the president has signaled he's prepared to do some things on entitlement cuts now. i could envision some that he would do. you saw, as example, i don't think durbin would have been out there saying that he could live with something like means testing if he wasn't serious about it. >> mm-hmm. >> i would like to see, you know, i'd like to see something done wi
in washington. that's right. but we got -- all the s.b. >> you know, erskine, when you look at what the odds are, the argument in the past has always been, i needed to talk about this a little earlier this morning, the idea that we will get some sort of higher rates now. the argument from the republicans has been if we agree to higher tax cuts now and agree to spending cuts later we're going to get the short end of the stick because that never happens. what do you think is the fair way...
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Dec 24, 2012
12/12
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we don't have a plan in washington. nominal gdp growth is 4% which would be something like recession in any other time over the past 50 or 60 years. so you're already recession-like types of -- >> you mean nominal levels? >> nominal is, you know, real plus inflation. >> right. >> and the fiscal cliff business is a big deal. it's a potentially big game changer. i didn't think there was a chance we would go over really until the last couple of days. now i'm thinking there could be a bungee jump where you go over for a couple days and come back. >> if you're a market timer and you believe in your bungee do you think there's going to be an opportunity? >> absolutely. because i truly believe. the good news is, is this is setting ourselves up for true entitlement and tax reform in 2013. it could be six months from now. it could be a very difficult first six months. >> you're looking for a baby deal now? >> there's probably going to have to be a baby deal, partly because of amt. you cannot retro actively fix amt. that would hi
we don't have a plan in washington. nominal gdp growth is 4% which would be something like recession in any other time over the past 50 or 60 years. so you're already recession-like types of -- >> you mean nominal levels? >> nominal is, you know, real plus inflation. >> right. >> and the fiscal cliff business is a big deal. it's a potentially big game changer. i didn't think there was a chance we would go over really until the last couple of days. now i'm thinking there...
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Dec 31, 2012
12/12
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baristas at the 120 starbucks in washington, d.c. were encouraged by management to add a shot of bipartisanship to their drink orders and remind customers in our nation's capital to come together. >> wall street is typically quieter this time of year. of course, this last week of 2012 was marked by investor concerns over congress' new year's eve plans and that looming fiscal cliff. so what impact does it have on your money? alison deans is with us, senior adviser at varick asset management. nice to see you. happy new year. do you have two plans for 2012, one that includes the fiscal cliff and one that doesn't? how do you prepare for the new year as an investor? >> pretty much. i mean, the outcome, if there is some type of healthy resolution to the fiscal cliff, even if they defer it for a week or two but come up with some healthy resolution, i think it bodes really well for global markets. if we wind up going into fiscal cliff and the world loses any faith in our government to accomplish anything that's helpful or relevant, i think t
baristas at the 120 starbucks in washington, d.c. were encouraged by management to add a shot of bipartisanship to their drink orders and remind customers in our nation's capital to come together. >> wall street is typically quieter this time of year. of course, this last week of 2012 was marked by investor concerns over congress' new year's eve plans and that looming fiscal cliff. so what impact does it have on your money? alison deans is with us, senior adviser at varick asset...
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Dec 28, 2012
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and there are no quens in washington. in the public sector, there are consequences when you pull a stunt like this. in washington, it's just, hey, whatever. >> you're looking at a live shot of where the president will be speaking in know just about an hour. we'll have live coverage right after this. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >> this is a live shot at the white house where congressional leaders met with the president about an hour ago. let's head down to d.c. for the latest on the stor
and there are no quens in washington. in the public sector, there are consequences when you pull a stunt like this. in washington, it's just, hey, whatever. >> you're looking at a live shot of where the president will be speaking in know just about an hour. we'll have live coverage right after this. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ]...
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Dec 3, 2012
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in washington, posturing politics and high-stakes poker with america's economy at stake. president obama's initial offer on the fiscal cliff was resoundingly rejected by republicans. it included a $1.6 trillion tax increase, double what he campaigned on. also included $400 billion in entitlement cuts eliminating the need for congressional approval to a raise the debt ceiling. the markets rebounded later in the week following the latest hopes on a fiscal cliff agreement. america's economy grew at a faster pace than initially expected in the third quarter of the year. the second reading of the gross domestic product showed it at rate of 2.7% spurred by stronger inventories and exports. the securities and exchange commission is looking for a new chairman. mary shapirp schapiro announcin she will step down after nearly four years on the job. the obama administration says it will announce a replacement in the near future. >>> starbucks has a new way to spend a lot of money. it is introducing the most expensive blend made from a rare costa rican variety named geisha. it is $7 a
in washington, posturing politics and high-stakes poker with america's economy at stake. president obama's initial offer on the fiscal cliff was resoundingly rejected by republicans. it included a $1.6 trillion tax increase, double what he campaigned on. also included $400 billion in entitlement cuts eliminating the need for congressional approval to a raise the debt ceiling. the markets rebounded later in the week following the latest hopes on a fiscal cliff agreement. america's economy grew...
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Dec 12, 2012
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you can see that investors want to rise above washington. but this morning rally, the averages got pulled down when harry reid said there probably won't be a deal in time for christmas. who's calling the tune? the nasdaq climbing 1.8%. apple rallied eleven and change. i hope this mini rally is happening because people have looked over the fiscal cliff and they weren't terrified by what they saw. i hope we will get by. i hope they don't mind government intervention in their portfolios. because they are not going away. i hope that because what i heard in washington today were two sides even though i can tell them that a deal would be done and there would be no vacation without legislation, we'd be in much better shape. i have to tell you, as encouraging as the market was this morning, the situation in washington is as discouraging. one after another i started with a new tack. i said let's go there. i said i totally agree the issue of spending not revenues. tell us what you have done to get spending done. did they give this fellow traveler some
you can see that investors want to rise above washington. but this morning rally, the averages got pulled down when harry reid said there probably won't be a deal in time for christmas. who's calling the tune? the nasdaq climbing 1.8%. apple rallied eleven and change. i hope this mini rally is happening because people have looked over the fiscal cliff and they weren't terrified by what they saw. i hope we will get by. i hope they don't mind government intervention in their portfolios. because...
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Dec 17, 2012
12/12
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a bold move by the fed, a standstill in washington, and the fiscal cliff moves ever closer. my talk with the man behind the no tax increase plan, what grover norquist thinks what will happen next. is he a big loser in the negotiations? why companies may be looking for the art history major rather than an engineering one. "wall street journal report" begins right now. >> this is america's number one financial news program. "the wall street journal report." now maria bartiromo. >> here is a look at what's making news as we head to a new week on wall street. the federal reserve goes where it's never gone before. at its meeting this week, the fed's open market committee announced a new target that it will keep interest rates low until the unemployment rate hits 6.5%. that's the target. that's the first time it has linked employment to interest rates. the fed also announced a plan to continue buying $40 billion a month in bonds to keep interest rates low. but, of course, the big news was about those jobs. >> the conditions now prevailing in the job market represent an enormous wa
a bold move by the fed, a standstill in washington, and the fiscal cliff moves ever closer. my talk with the man behind the no tax increase plan, what grover norquist thinks what will happen next. is he a big loser in the negotiations? why companies may be looking for the art history major rather than an engineering one. "wall street journal report" begins right now. >> this is america's number one financial news program. "the wall street journal report." now maria...
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Dec 1, 2012
12/12
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stocks eking out gains as traders wait on washington. a flashing red warning sign emerging for the consumer. shares of yum brands taking a hit on the warning on the outlook for china. what does this mean for the other multinationals. this is much more than a single stock story because yum is looked at as a barometer for china growth. >> this year as mcdonald's was signaling that china was weakening we are seeing sales trends weaken. yum was doing fantastically in both regions. yum gets it disproportionate from the sales. and a lot of investors were wondering how these guys were bucking the trend for so long. to me this is a little curious. just gave guidance on october 10. to me they may have a bit of a credibility problem. the other one we were talking about is tiffany's. they have downgraded yesterday and that was also based on china. you are getting it on both sides of the spectrum. >> that is a great point in terms of their guidance. that is what caught the markets by surprise given the proximity of the most recent guidance. now they
stocks eking out gains as traders wait on washington. a flashing red warning sign emerging for the consumer. shares of yum brands taking a hit on the warning on the outlook for china. what does this mean for the other multinationals. this is much more than a single stock story because yum is looked at as a barometer for china growth. >> this year as mcdonald's was signaling that china was weakening we are seeing sales trends weaken. yum was doing fantastically in both regions. yum gets it...
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Dec 21, 2012
12/12
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the story on wall street today was washington. the back and forth on the fiscal cliff negotiations sending the markets sharply lower. and so, what do we make of it here, dan? friday afternoon, we're awaiting the president to be joined by senate majority leader harry reid to make a statement on these talks into the weekend. >> in some ways i would say the reaction today, the ultimate reaction ended up being a tad muted in a lot of ways when you think about it. because the overnight lows were down 3%. in the s&p. so we closed down about 1% here and so here's a situation where i think the options market kind of has this a little bit. the six futures curve started ticking up earlier in the week in kind of a precursor to some of the equity weakness we saw today. in a lot of senses a pretty quarterly sellover. >> i agree with that. one of the things we saw in the options market. we've spoken about this many times. there are holidays coming up, if you back the holidays out, we're expecting greater than expected volatility at a time when
the story on wall street today was washington. the back and forth on the fiscal cliff negotiations sending the markets sharply lower. and so, what do we make of it here, dan? friday afternoon, we're awaiting the president to be joined by senate majority leader harry reid to make a statement on these talks into the weekend. >> in some ways i would say the reaction today, the ultimate reaction ended up being a tad muted in a lot of ways when you think about it. because the overnight lows...
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Dec 18, 2012
12/12
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based on the hope that our leaders in washington may be working on the fiscal cliff. someone might panic then. let's focus on a company that may get cheaper. there are two ways to value every company. that represents what traders are willing to pay for a piece of the company. that in mind i want to tell you a tale about a company that could be in the cross hairs of it and the company i'm talking about is mindsafety. prote protection devices. that is a lot of stuff that you need to do in the oil and gas industry. oil and gas companies, as well as law enforcement agencies and the military. why do i think that my safety is to be required? take vng come on, safety never takes a vacation and no one ever skimps on it. mine safety sold the body armor business. honey well is the safety division. what do we get? this is part of the safety division. due possible has a safety division. $53 share stock. $41 price tag. both honey well and dupont want to add to their safety offer. $1.4 billion to buy sperion. they invented kevlar. in 2008 they bought industrial apparel. it is one o
based on the hope that our leaders in washington may be working on the fiscal cliff. someone might panic then. let's focus on a company that may get cheaper. there are two ways to value every company. that represents what traders are willing to pay for a piece of the company. that in mind i want to tell you a tale about a company that could be in the cross hairs of it and the company i'm talking about is mindsafety. prote protection devices. that is a lot of stuff that you need to do in the oil...
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Dec 14, 2012
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thank you so much, eamon javers in washington. neither side seems closer to signing on the dotted line so is congress living on borrowed time with the markets as it drags out the process in the next couple of weeks? christopher whalen is with me and says the market will throw a tantrum if we don't get a deal and another says the markets will trade sideways to slightly lower from now until year end. >> you think the markets have actually baked in no deal? >> i think there's likely to be a deal by late december, early january, last minute and the markets are poised to rally. i think they are kind of going sideways the next few days or so. i think they are probably going to rally in the year end, early january and then i'd be worried about a downtown because i think the first quarter will be surprisingly weak in the united states. >> the first quarter will be weak. we already know about the anticipation going into the first quarter. the reason i'm stuck on this question is you think that this is baked in because i think the market is
thank you so much, eamon javers in washington. neither side seems closer to signing on the dotted line so is congress living on borrowed time with the markets as it drags out the process in the next couple of weeks? christopher whalen is with me and says the market will throw a tantrum if we don't get a deal and another says the markets will trade sideways to slightly lower from now until year end. >> you think the markets have actually baked in no deal? >> i think there's likely to...
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Dec 10, 2012
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the optics as washington likes to call it, of going on vacation when you have a fiscal cliff looming, if you don't have an agreement are simply awful. boehner has already told the republicans that nobody is going on vacation until this thing is settled. i think the democrats are probably going to say, pelosi and reid will say the same thing for the democrats. i wouldn't be surprised if congress stayed in session maybe all the way until the 21st of december. this is going to be not to put too fine a point on it, a cliff hanger with regard to the fiscal cliff. i think there will be some movement. in other words, they will not go on vacation unless there's some agreement about what a framework is going to be or some way that they are going to avoid basically seeing tax rates going up on january 1st and major spending cuts go into effect. there will be some delay if they don't reach a tentative agreement by say december 21st when they head home. >> i would hope so because i think america is going to be upset at this point in time we all recognize what the implications of going over the cl
the optics as washington likes to call it, of going on vacation when you have a fiscal cliff looming, if you don't have an agreement are simply awful. boehner has already told the republicans that nobody is going on vacation until this thing is settled. i think the democrats are probably going to say, pelosi and reid will say the same thing for the democrats. i wouldn't be surprised if congress stayed in session maybe all the way until the 21st of december. this is going to be not to put too...
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Dec 10, 2012
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i know everybody's hostage to washington these days. there's some trends that can trump the government, health and wellness maybe? breaking up is easy to do stories. better than expected retailers, in the end when it come to the fiscal cliff, to the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements, that's what everybody wants. does matter, believe he, i mean what's going to happen if we do nothing except keep things exacthe they are now, and just vote to undo the cliff. they'll downgrade the u.s. debt. but that's it. by the way, we have already proven through nine ways of sunday that -- when our credit rating got downgraded last summer. well, bonds went up in price and down in-year-old. -- in yield. so why not do nothing? why doesn't the president say we're just going to keep bonds the way they are. and we're not going to cut entitlements because we know i
i know everybody's hostage to washington these days. there's some trends that can trump the government, health and wellness maybe? breaking up is easy to do stories. better than expected retailers, in the end when it come to the fiscal cliff, to the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements, that's what...
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Dec 14, 2012
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, washington. go hawks. let's go microsoft. >> okay. microsoft does not yield enough yet to intrigue me. i do believe it will be a better stock in 2013 at some point. i have to believe some of that cycle of windows 8 kicks in. right now in no man's land. i don't like being in no-man's land. rick in missouri now. >> caller: jim, thank you for taking my call. appreciate it. >> thank you. >> caller: my question today, i want to know if arch coal will remain a big lump of coal for 2013. i bought it at 14. down to about 7. would like your insight. >> remember, on "mad money," we don't care where a stock has been, we care where it's going. i remain incredibly bearish arch coal. stewart in california, please. >> caller: jim, a big booyah for myself and my parents. i'm wondering how you think bank of america will do with the whole fiscal cliff situation? >> people tell me that the housing business is the one that will be hurt most by fiscal cliff, but bank of america is an inexpensive stock. not my favorit
, washington. go hawks. let's go microsoft. >> okay. microsoft does not yield enough yet to intrigue me. i do believe it will be a better stock in 2013 at some point. i have to believe some of that cycle of windows 8 kicks in. right now in no man's land. i don't like being in no-man's land. rick in missouri now. >> caller: jim, thank you for taking my call. appreciate it. >> thank you. >> caller: my question today, i want to know if arch coal will remain a big lump of...
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Dec 31, 2012
12/12
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washington has been an absolute circus. now in the center ring in 30 minutes, president obama is set to deliver his remarks, we will have them of course live for you here now on "power lunch." let's look at the countdown clock. if we don't get a deal before time slip slides away, spending cuts and tax hikes are indeed the order of the day on this new year. happy new year, america. i'm sue herrera. we will start with john har wood at the white house in a few minutes. but amman starts us out. >> it seems they are really hashing out details of what to do about the sequester, those are the massive spending cuts. how long you delay those down and otherwise pay for them seems to be the crux of the negotiation going on behind closed doors right now but it is very difficult to find out exactly where these negotiations stand because all sides are being very, very mum. we can tell you that democrats appear to be getting a little bit concerned about where this is headed. take a listen to senator tom harkin who took to the senate floor
washington has been an absolute circus. now in the center ring in 30 minutes, president obama is set to deliver his remarks, we will have them of course live for you here now on "power lunch." let's look at the countdown clock. if we don't get a deal before time slip slides away, spending cuts and tax hikes are indeed the order of the day on this new year. happy new year, america. i'm sue herrera. we will start with john har wood at the white house in a few minutes. but amman starts...
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Dec 5, 2012
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does anybody in washington think about spending and help the taxpayer? spending is going to get done and it is going to include spending. the question when those details come out is will the president face the problem on the left of trying to herd cats here. rather than focused on the priority. they are going to have to be part of this deal. so how obama manages the left is something that we are going to have to pay attention to as well. >> let's continue this discussion. here now is karen finney. we have david webb. let me go to you, guy benson. it sounded to me like president obama talking about tax rates. >> is this dead or still alive? >> it is still alive. and it is ugly. but the piece that you mentioned. setting aside some of the substance here. there is a new poll out today that shows the public unchanged. it has been that way for weeks now. they had a proposal and i think it is middle ground and they put it in a letter and leaked it to the press. i think you heard what you heard from the president all along. >> i have to say, i agree with guy. pa
does anybody in washington think about spending and help the taxpayer? spending is going to get done and it is going to include spending. the question when those details come out is will the president face the problem on the left of trying to herd cats here. rather than focused on the priority. they are going to have to be part of this deal. so how obama manages the left is something that we are going to have to pay attention to as well. >> let's continue this discussion. here now is...
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Dec 26, 2012
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we're waiting for news out of washington. that's going to be a catalyst. typically we see light volumes, we don't see a ton of trading. what do you expect the action to be while we're waiting for this decision? do you expect anything out of the ordinary this year? >> no, i don't. i think we'll see light volumes again, too. i think we're going over the fiscal cliff. but what i think is, the market has grown accustomed to that. small caps are up 9.5% since mid-november. that's optimistic in my mind. what i think they think is that we go over the fiscal cliff and sometime in the first week and a half, that's the political theater where the republicans can then cut taxes instead of raising taxes on anyone. and all will be well. i do think, however, the one thing that i'm worried about is the markets are okay with that, and they -- in our business we say buy the room or sell the facts. they price in this good outcome that happens the first week of january. then there's no reason left to buy. we priced that in and go lower. i did establish shorts on christmas ev
we're waiting for news out of washington. that's going to be a catalyst. typically we see light volumes, we don't see a ton of trading. what do you expect the action to be while we're waiting for this decision? do you expect anything out of the ordinary this year? >> no, i don't. i think we'll see light volumes again, too. i think we're going over the fiscal cliff. but what i think is, the market has grown accustomed to that. small caps are up 9.5% since mid-november. that's optimistic in...
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Dec 31, 2012
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>> i think washington, d.c. everyone. rs everyone. i think what joe mentioned yesterday is exactly right. people are looking at washington and seeing a dysfunctional city, dysfunctional government and we've got to prove them different and we've got, i think, we've got two to three months to really do something significant. you know, the campaign to fix the debt, which is bipartisan, greg and bloomberg and i are co-claire, we've been calling for them to do something big. they had seven weeks to do something big, and they didn't. they kicked the can down the road. >> they add decade to do something big. jimmy, listen, we are heading into the nur yeanew year, it is time for forgiveness. i will defend congress for a second. i was thinking about this last night, right? they are in an impossible tossing. if they say, i'm sorry, you won't get everything promised. period. next election they are go gone because someone will step up and say, sure, i will give you everything. i don't know how i'm going to pay for it. so i feel a little bad for c
>> i think washington, d.c. everyone. rs everyone. i think what joe mentioned yesterday is exactly right. people are looking at washington and seeing a dysfunctional city, dysfunctional government and we've got to prove them different and we've got, i think, we've got two to three months to really do something significant. you know, the campaign to fix the debt, which is bipartisan, greg and bloomberg and i are co-claire, we've been calling for them to do something big. they had seven...
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Dec 4, 2012
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jeff, what do you make of what's going on in washington? i'm most interested in the fact that the markets have lost the volatili volatility. we're not seeing the markets respond to every single statement that comes out of washington right now. what do you make of that? >> i think it's the same washington waltz we saw last year. they didn't extend the bush tax cuts until december 17th. they didn't handle the payroll tax until december 23rd. i lived inside the beltway. i have a pretty good network on the hill. i think they're going to have some kind of staged in agreement and then agree to attack the entitlement situation in the new year. >> michael, what do you make of what's going on? how do you try and trade this? at least we had some volatility the traders could trade on. now we don't have that. >> i think the lower volatility is telling you this is an extremely resilient stock market. i've been calling this the rocky balboa stock market. the entire scenario playing out is the fiscal cliff ends up being bullish no matter what. spending cu
jeff, what do you make of what's going on in washington? i'm most interested in the fact that the markets have lost the volatili volatility. we're not seeing the markets respond to every single statement that comes out of washington right now. what do you make of that? >> i think it's the same washington waltz we saw last year. they didn't extend the bush tax cuts until december 17th. they didn't handle the payroll tax until december 23rd. i lived inside the beltway. i have a pretty good...
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Dec 20, 2012
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we'll take you live to washington. stick around on the "closing bell." >>> time to toast today's close with this. a recent study from william blair showed that amazon is offering a wired selection of products, and it's a little bit cheaper than both walmart and target. so what are the differences? find out next. a recent study from william ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> a toast to today's market close. online, amazon's product selection is 15 to 20 times larger than target and walmart. and the pric
we'll take you live to washington. stick around on the "closing bell." >>> time to toast today's close with this. a recent study from william blair showed that amazon is offering a wired selection of products, and it's a little bit cheaper than both walmart and target. so what are the differences? find out next. a recent study from william ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of...
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Dec 14, 2012
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our john harwood is in washington with some more details on what we know right now. john? >> reporter: well, bill, the horror of this tragedy is also muted talk of anything else in washington for the day, including the fiscal cliff and all the issues that we've been discussing for some time now, but one of the jobs of a president is to console victims and to console the nation at a time of grief of this magnitude, so we're going to hear from the president at 3:15. jay carney earlier saying he wasn't going to discuss issues like gun control. it wasn't a day for politics. it's a day to focus on the victims of the tragedy, so you can expect the president is going to focus his remarks on the victims and what happened in connecticut and the attempt to figure out how it happened, why it happened. we'll hear from him at 3:15, and we're going to bring that to you, and we'll talk about it afterwards. >> all right, john, thank you very much. of course, we often talk about how the markets are a mood reflector, and if that's the case, we very much see a market that is subdued today by
our john harwood is in washington with some more details on what we know right now. john? >> reporter: well, bill, the horror of this tragedy is also muted talk of anything else in washington for the day, including the fiscal cliff and all the issues that we've been discussing for some time now, but one of the jobs of a president is to console victims and to console the nation at a time of grief of this magnitude, so we're going to hear from the president at 3:15. jay carney earlier...
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Dec 5, 2012
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i'll tell you what, maria, i'm not sure what's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues, but i'll tell you this. i think that all these stories aren't necessarily going lead us to the truth. i personally have a very size way i'm approaching this. the president is supposed to leave for a 21-day vacation in hawaii on december 17th. where he is on december 18th will tell me, and i think the markets will pay attention. i find it hard to believe, and i agree with bill and many, who are very not amused by the house taking their long weekend. i'm sure that the president would have no intentions of leaving until these issues are resolved. i think the market is being kind, but i think it's a timing issue. >> yeah, i think that's a good point. somebody mentioned the other day that the president is planning a trip to hawaii on december 17th. i said, what
i'll tell you what, maria, i'm not sure what's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues, but i'll tell you this. i think that all these stories aren't necessarily going lead us to the truth. i personally have a very size way i'm approaching this. the president is supposed to leave...
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Dec 6, 2012
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i think if there's absolute gridlock in washington -- and right now washington seems to be on another planet. all of us in the markets, people at home, people in the country want republicans and democrats to work together. everyone seems to want that except for republicans and democrats. if they really are as far apart as they seem at times, we could shoot ourselves in the foot. >> i think most of us wish that washington were on another planet. and that we could just take the whole group and ship them there. since we can't do that, however, i think if we do get two weeks or a month worth of argument that results in the fiscal cliff being -- that we fall off the cliff, then you are going to start seeing layoff notices and the rest. fortunately, i would say we're going to accelerate that unemployment and the job loss, unfortunately, if that happens. and that's going to result in warnings going forward from all the major industrial companies, as well. that's what i hope washington is listening to, and that's why i hope they turn away from that. >> absolutely. i agree completely. i was de
i think if there's absolute gridlock in washington -- and right now washington seems to be on another planet. all of us in the markets, people at home, people in the country want republicans and democrats to work together. everyone seems to want that except for republicans and democrats. if they really are as far apart as they seem at times, we could shoot ourselves in the foot. >> i think most of us wish that washington were on another planet. and that we could just take the whole group...
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Dec 10, 2012
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until we get a clearer signal out of washington. >> yes. and i think we're going to see this narrow trading range. if there's no resolution, i think the market might react negatively. but i think that's a short-term negative term. but i do think that's a negative possibility. and i do think there's a possibility nothing will come out. >> meantime, the economic reports coming out starting to soften a bit here. do you make of that? >> it's not surprising. i don't think the economy is strong enough to have continued quarterly increases. i think we're going to see this probably for the next six months. you're going to have some good reports. jobless claims will probably get better going fod.
until we get a clearer signal out of washington. >> yes. and i think we're going to see this narrow trading range. if there's no resolution, i think the market might react negatively. but i think that's a short-term negative term. but i do think that's a negative possibility. and i do think there's a possibility nothing will come out. >> meantime, the economic reports coming out starting to soften a bit here. do you make of that? >> it's not surprising. i don't think the...
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people in washington don't want to cut programs especially their own. real americans say we need serious entitlement reform. but the president is dead set against that. that's the problem here. long-term we've got to deal with entitlements. i don't think this deal would touch those at all. that is a serious problem that i think threatens the financial stability of our nation. >> all right. we appreciate your thoughts, folks. thank you very much. happy new year. >> you too. thank you. >>> we are heading towards the close. and about 35 minutes left. we continue to come off those highs. the dow was up 150 points at the peak. now a gain of 106 right now. >> we're sitting above the 13,000 mark. that's the level to watch. whether we can close out the year above that mark. >>> still ahead, what's going to happen in the worlds of tech in 2013? we've got predictions that might shock you like who might buy netflix. >>> also the five-year drop is truly ugly, but bank of america has been a agreement investment this year. should you stay with it for 2013 or will the
people in washington don't want to cut programs especially their own. real americans say we need serious entitlement reform. but the president is dead set against that. that's the problem here. long-term we've got to deal with entitlements. i don't think this deal would touch those at all. that is a serious problem that i think threatens the financial stability of our nation. >> all right. we appreciate your thoughts, folks. thank you very much. happy new year. >> you too. thank...
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we're not closer to a deal in washington today. you can tell from the sell-off, investors do not like it. >> no, posting their largest decline since november 14th, in case you were wondering. although we are off the lows of the session right now. the dow was down 189 two hours into the trading session. we've come off those lows. but at this point, the dow is down 1% for the week and we are down 1% today at 13,173. nasdaq lower, as well. let's see how many percentage points we're down right now. down 1.25%. the technology sector is taking a bigger hit today. down to 3,012 on the nasdaq and the s&p 500 index is down 1% at 1428. . >> house speaker john boehner says he's still open to a offer from the democrats. >> it was a dramatic evening last night. john harwood was there. he has the latest on the on talks. are there any talks, john? >> i think so. but they're pretty muted. this bill was not win of those weeks that makes washington look good. come to think of it, there aren't many weeks that make washington look good. but this was e
we're not closer to a deal in washington today. you can tell from the sell-off, investors do not like it. >> no, posting their largest decline since november 14th, in case you were wondering. although we are off the lows of the session right now. the dow was down 189 two hours into the trading session. we've come off those lows. but at this point, the dow is down 1% for the week and we are down 1% today at 13,173. nasdaq lower, as well. let's see how many percentage points we're down...
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memo to washington who people think there can be a deal easily. these republicans don't fear the wrath of speaker boehner like they do the whip of norquist who can produce primary challenges against anyone that crosses him. boehner won't do that. in two week's time we'll have a dramatic automatic tax increase and norquist can rally for immediate tax relief for a tax cut like he likes to. going over the cliff is the only way norquist controlled republicans are spared the wrath of grover which i believe having known grover for 35 years is indeed worse than the wrath of khan. so if a deal is more likely, why sell now. legitimate question, ain't it. it could be the major reason we didn't sell-off. we rallied 7%. even if boehner's plan b won and president said that's legitimate stillborn and couldn't be considered serious. there's been little selling in the last few weeks despite how much politicians clearly loathe each other and couldn't have a pbr. i believe we can quick selling off. more and more people recognize we could go over the cliff. even if
memo to washington who people think there can be a deal easily. these republicans don't fear the wrath of speaker boehner like they do the whip of norquist who can produce primary challenges against anyone that crosses him. boehner won't do that. in two week's time we'll have a dramatic automatic tax increase and norquist can rally for immediate tax relief for a tax cut like he likes to. going over the cliff is the only way norquist controlled republicans are spared the wrath of grover which i...
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want to go back to washington. over to you, john. >> just wanted to correct something i said on air and in a graphic. the republican offer the speaker made today does not include the premium support or voucher plan for medicare. it does include, though, the reduction in the inflation adjustment for social security and a rise in the medicare eligibility age from 65 to 67. two other things very quickly. the white house communications director has just put out a statement saying the boehner offer does not meet the test of balance because it doesn't raise tax rates for the wealthy. we also have a statement saying that the republican offer which they are quoting him in making this offer is simply a mid point of proposals and both sides need to come off their fixed position. >> we have 28 days left. thanks so much. as the markets remain laser focused on the fiscal cliff what else should we be watching tomorrow. joining me now to break it down. good to see you. barry, 30 seconds on the clock. what do you want to watch for
want to go back to washington. over to you, john. >> just wanted to correct something i said on air and in a graphic. the republican offer the speaker made today does not include the premium support or voucher plan for medicare. it does include, though, the reduction in the inflation adjustment for social security and a rise in the medicare eligibility age from 65 to 67. two other things very quickly. the white house communications director has just put out a statement saying the boehner...
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we'll look at those deal meetings in washington. stay with us. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 ml350 for $599 a month at your local mercedes-benz dealer. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. >>> welcome back. shares of sprint today dropping today after the telecom giant announced the remaining stake it does not own. sprint is one of the best performing stocks in the s&p 500 this year. is there still room to run for the stock or are you better off with larger competitor verizon? on
we'll look at those deal meetings in washington. stay with us. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 ml350 for $599 a month at your local mercedes-benz dealer. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national....